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The EGX30 index rose 1.2% during the last week’s trading to settle at 15,110 points, and while the EGX70 rose 0.6%, closing at 556 points.
Financial markets pioneered use of financial technology, are the basis of technological innovation
Decline in return on investment revives EGX investments in tandem with IPO activity
Experts forecasts further cut before end-2019, debt instruments remain attractive
Fayed statement came on the sidelines of the loan signing ceremony with real estate developer Inertia. He explained that the offering would be through a capital increase and the sale of a stake to a strategic investor, targeting around $300-400m.
The Minister of Public Enterprises Sector, Hisham Tawfek, said his ministry has 119 subsidiaries under the law No. 203, in addition to 107 other companies under the same law but affiliated to other ministries.
The offering included 36% stake, which represents 21% of its capital.
IPO to close tomorrow, trading begins on Thursday
Fawry’s IPO is likely to boost hopefulness in market, Eid holiday signals calm trading
EFG Hermes conducted EGP 8.2bn of transactions thanks to institutions deals
Bidding unit was market demand to increase turnover of small securities, says EGX chairperson
The EGX welcomes all new financial products that can attract new segments of investors as long as they are consistent with the EGX rules and procedures.
Most of this liquidity will come from Fawry IPO which is expected to energise the Egyptian Exchange (EGX), increasing the chances of profit through the expected rise in stock prices.
Company to implement insurance brokerage requests electronically in 4Q19, revenues expected to reach EGP 869.4m by year-end
Furthermore, according to the statement, shares offered in connection with the institutional offering and the Egyptian retail offering will be offered and sold at the same price (offer price).
Current share prices offer ideal opportunity for long-term investor, says Naeem Brokerage
21% for strategic investors, between 15-19% stake for IPO and private placement
EGX expected to continue fluctuating in coming sessions
FV of company’s shares being determined before approval, completion of offering procedures: Okasha
Mubasher aims to expand in Upper Egypt, says Sadek
Buying selected stocks amid possibility of correcting index towards 13,900
Weak efficiency of EGX in creating market for exiting reduces chances of attracting direct investments
Absence of stimulus, positive news, foreign sales and trade escalation weaken the market’s attractiveness
US-China trade conflict is confusing investors
Technological culture strongly prevalent in Egypt, allows building strong digital financial system
Average capital of target companies is EGP 700m
Pharos expects main index to pass 13.800 points supported by decline in sales
Brokering companies should now prepare themselves to meet requirements, says EGX chief
Stamp tax on EGX at max of 10% of profits, says ECMA chairperson
The main index EGX30 fell by 5.5% last week to 14,035 points, in its largest weekly decline since December.